Costa Rica Central Bank approves plan to give more resources to banks
The monetary authority may give special credit, repurchase titles and expand the number of entities that can participate in the Interbank Money Market (MID).
Wednesday, November 5, 2008
The measure is in effect since yesterday and includes three components, explained Central Bank manager, Roy Gonzalez.
El Salvador, Panama and Costa Rica signed a consolidated supervision agreement for entities operating in their jurisdictions.
The World Bank will provide a loan in order to improve efficiency in Panama´s public sector.
Lower demand for credit from the private sector is the main reason for the increase in liquidity in colones in the local financial system.
The liquidity of the banking system grew by 30% in the last twelve months, helped by the growth of liquid assets of banks and the extension of terms for external loans.
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